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Archive for October, 2010

Hanalei Town with a view of Mt. Na Molokama, a...
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The Kauai real estate market, especially among Kauai condos for sale, saw a dramatic shift in the month of September, as the median condo price plunged drastically. According to an October 5, 2010 article from the Honolulu Star Advertiser, “The biggest swing in Big Island and Kauai home sales in September occurred in Kauai’s condo market, where the median price dropped 40 percent. Most of the median price decline for Kauai condos was attributable to sales in Lihue, where there were nine condo sales for a median $76,000 in September. A year earlier, there were four sales for a median $207,500 in Lihue, according to a report from Hawaii Information Service. For all of Kauai there were 20 condo sales last month, up 54 percent from 13 sales a year earlier. The median price, which is a point at which half the sales were for more and half for less, dropped to $299,500 from $501,500. Sales of single-family homes on the Big Island and Kauai were flat or down slightly in September compared with the same month last year. Median prices also were mixed, but in a different way. Generally, median prices moved in the opposite direction of sales, that is they rose for single-family homes and fell for condos. In Kauai’s single-family home market, there were 16 sales last month, unchanged from a year earlier. The median price was up 5 percent to $496,750 from $474,500.”

Despite a decline in the median price of Kauai condos for sale, some Kauai homes for sale helped to propel two Kauai ZIP codes to the top of a listing of expensive areas. According to an October 11, 2010 report from Honolulu Magazine, “Forbes recently released its annual listing of America’s Most Expensive Zip Codes, and Hawaii’s top-ranking zip codes raised more than a few eyebrows. That’s because, according to the Forbes list, Hawaii’s most expensive zip code is 96703, Anahola, which came in at number 60 with a median home price of $1,921,875. The second-most expensive zip code in the islands? That would be 96714, Hanalei, which came in at No. 72 with a median home price of $1,732,833.”

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